Annuity Proposition Analyst

This job is with Canada Life UK, an inclusive employer and a member of myGwork – the largest global platform for the LGBTQ+ business community. Location: Watford. Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation. Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues. Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

Job Summary: The role holder will be expected to build a strong knowledge of the retirement income market within the UK, including competitor intelligence and an understanding of the regulatory environment in which we operate. They will also be expected to conduct research and provide any insight into market trends to identify new business opportunities across Individual Annuities, including but not restricted to Fixed term and Purchased Life Annuities. Ultimately, this role will support the Annuity Propositions Team to ensure profitable growth in targeted market segments within business risk appetite whilst also identifying and delivering process improvement opportunities. The person in this role must have a basic understanding of annuities. An understanding of the Individual Annuities market would be an advantage. In addition to supporting the Head of Individual Annuities and the Annuity Proposition Manager, they will work closely with the Annuities Sales and marketing teams.

What will you be doing:

• Contribute to the management of annuity product and propositions to enable the business to meet its corporate objectives for sales and margins whilst driving good customer outcomes within the business risk appetite.
• Support the Annuities Proposition Manager and Annuity Sales Director to explore and evaluate new opportunities and build strong business cases for recommended new product or proposition developments.
• Ensure the products comply with relevant legislation, meet the needs of the target customer segment and deliver good customer outcomes.
• Contribute to the governance of the annuity proposition demonstrating effective risk management through ongoing monitoring of products in regular product management meetings and regular product reviews.
• Contribute to product or proposition developments as required in order to meet business objectives and/or comply with changes to legislation.
• Assisting the Annuities Proposition Manager to drive propositional improvements across the business that will impact service delivery to the end customer and our chosen distribution channels.
• Contribute to regulatory and legislative consultation responses as agreed with the Annuities Proposition Manager on any issue which might impact the annuity proposition.
• Identify improvements in business process to ensure we always provide a positive customer outcome with products and services that meet their needs.

What Experience will you have for the position:

• Good communication skills at all levels - both verbal and written.
• A knowledge of retirement income products and legislation (knowledge of Individual annuities would be an advantage).
• You have a strong team ethic to support your colleagues when required.
• Ability to work to tight deadlines while maintaining quality of output.
• Creative thinker able to follow a process but also consider alternatives.
• Enthusiasm and willingness to develop and learn.

Qualifications:

• Experience within financial services ideally within retirement (but not essential as the most important qualification is the ability to pick things up quickly).

Benefits of working at Canada Life: We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that's regularly reviewed. As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with income protection, private medical insurance and life assurance. We have a fantastic number of other benefits and support services as well as regular personal and professional development.

How we work at Canada Life: Our culture is unique and incredibly important to us. We care about doing the right thing for our people, customers and community and helping others to build better futures. Our blueprint behaviours shape and influence how we work, and are central to the relationships we have with others. Every day we are encouraged to be more curious, own the outcome, face into things together and find a way forward. We want colleagues to have rewarding careers with us so we invest in the development of our people, technology and workplaces. That's why we offer a range of training, flexible working and opportunities to grow and develop.

Diversity and inclusion: Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic is a key commitment for us. We are proud of the progress we're making in DEI, and we continue for it to be a significant focus. "At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all." Nick Harding, Chief People Officer, Canada Life UK. We appreciate that everyone has different work and life responsibilities. We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you.